The Role of Boards of Directors in Corporate Governance: A Conceptual Framework & Survey∗ Ren´e B. Adams‚† Benjamin E. Hermalin‚‡ and Michael S. Weisbach§ e April ‚ Abstract This paper is a survey of the literature on boards of directors‚ with an emphasis on research done subsequent to the Hermalin and Weisbach (2003) survey. The two questions most asked about boards are what determines their makeup and what determines their actions? These questions are fundamentally intertwined‚ which
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Running head: RIORDAN CORPORATE COMPLIANCE PLAN 1 Riordan Corporate Compliance Plan Napoleon Melton‚ Jr. LAW/531 January 17‚ 2011 Terry Turner RIORDAN CORPORATE COMPLIANCE PLAN 2 Riordan Corporate Compliance Plan Riordan Manufacturing is wholly owned by Riordan Industries‚ a Fortune 1000 enterprise based in San Jose‚ CA. Riordan produces plastic beverage containers at its Albany‚ GA plant‚ custom plastic parts at its Pontiac‚ MI plant‚ and plastic fan parts at its Hangzhou‚ China
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In his review published in 2003‚ Derek Higgs described the role of a non-executive director as ‘custodian of the governance process.’ A non-executive director (NED) sits on the board of company just as a normal executive director would do so‚ however a non-executive director does not form part of the executive management team of the company. Essentially they are not an employee of the company or affiliated in any way other than their role as an independent NED. The distinction between a non-executive
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Citic Pacific listed as a red-chip company in the Hong Kong Stock exchange. B. The case talks about the corporate governance practices at Citic Pacific and the affect it had on this investment decision. • One of the main issues with the company is that they waited six weeks before informing the public of their losses. C. The corporate governance at Citic Pacific case discusses the huge $15.5 billion loss that the company incurred when they invested in an iron
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SOCIAL SCIENCES CORPORATE GOVERNANCE: THE EFFECTS OF BOARD CHARACTERISTICS‚ INFORMATION TECHNOLOGY MATURITY AND TRANSPARENCY ON COMPANY PERFORMANCE By Sinan DÜZTAŞ Supervisor Prof. Dr. . Atilla D CLE Submitted to the Graduate Institute of Social Sciences In partial fulfilment of the requirements for the degree of Doctor of Philosophy (Management and Organisation) STANBUL‚ 2008 T.C YED TEPE UNIVERSITY GRADUATE INSTITUTE OF SOCIAL SCIENCES CORPORATE GOVERNANCE: THE EFFECTS
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while maintaining a strong corporate responsibility towards the environment in which it operates. Having secured among the largest logging concession rights in the country‚ PWPB is able to tap into a steady source of quality raw material to ensure efficient production in the years to come. The Company adheres by strict quality control measures to ensure PWPB products maintain world class standards to meet a strong international demand. Corporate Governance PWPB’s corporate structure includes a high
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Corporate Governance and Regulation Issues in a Casino Economy: Insights from Zimbabwe’s ReNaissance Merchant Bank (Working paper) ‘We should put out fire while it is yet small’‚ African proverb Mufaro Gunduza Abstract In the last ten years the Zimbabwean financial landscape has witnessed fundamental tectonic shifts (Gono‚ 2008). High inflation soared to hyper-inflation and further galloped into unbelievable supersonic inflation (Mnaba‚ 2012). The country degenerated into a classic ‘casino
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Agency theory relative to corporate governance assumes a two-tier form of firm control: managers and owners. Agency theory holds that there will be some friction and mistrust between these two groups. The basic structure of the corporation‚ therefore‚ is the web of contractual relations among different interest groups with a stake in the company. In general‚ there are three sets of interest groups within the firm. Managers‚ stockholders and creditors (such as banks). Stockholders often have conflicts
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Cadbury Committee in the UK defined corporate governance as “the system by which companies are directed and controlled.” To a great extent‚ this is true. The need for corporate governance has increased‚ particularly due to the increasing number of scams that are being reported‚ such as Satyam and Nasscom. Corporate governance in India aims to establish better transparency and responsibility in governing the way corporations are managed. Further‚ corporate governance in India helps a company to meet
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PepsiCo - Procedures Ensuring Ethical Behaviour PepsiCo is committed to ensure the corporate standards accountability for the company actions. This is evident by the many corporate governance standards in place. The processes and policies that are in place include the Amended and Restated Articles of Incorporation‚ By-Laws‚ Compensation Committee Charter‚ Corporate Governance Guidelines‚ Disclosure Committee Charter and the Policy for Audit‚ Audit-Related and Non-Audit Services. The
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